Macky wants to open a checking account. He is examining different banks and banking accounts. Then he will choose a bank account for his needs. Which of the following statements should not be one of Macky’s reasons for choosing a bank?

Question

a.
Being more informed leads to being better prepared to make financial decisions.
b.
Banks could have charges that Macky does not know about until reading carefully.
c.
The first bank Macky considered offered a chance to win a prize upon opening an account.
d.
He will become more aware of how well banks meet his particular needs.

Answer 1

The statement that should not be one of Macky’s reasons for choosing a bank is:

c. The first bank Macky considered offered a chance to win a prize upon opening an account.

This reason is more about a promotional incentive rather than a substantial consideration of the bank's services, fees, or how well it meets Macky's financial needs. It is important for Macky to focus on the value and features of the account rather than a chance to win a prize.